New Survey Shows Small Businesses’ Growing Concern about Raising Capital

My latest piece for the U.S. Chamber looks at small business owners’ concern over finding capital to run and grow their businesses.

According to the latest MetLife and U.S. Chamber of Commerce Small Business Index small business owners’ perceptions of their access to capital have declined over the last five years. About half (49%) of small business owners surveyed in Q1 2023 say their current access to capital or loans is good. That is significantly lower than those who said their access was good in 2017 (67%).

The survey also found that a majority of small businesses rely on their personal savings (69%) for capital/loans to fund their business. Credit cards and using local banks or credit unions are also top sources of financing.

With rising interest rates and long-term trends making it more difficult to find and raise capital, I'm glad the latest SBI was able to shed more light on this vital issue for America's small businesses.

You can find the whole article here or download the SBI itself, complete with stats.